With home equity at all-time highs, now estimated to be some $28.7 trillion of it, you will not get the same size home equity loan everywhere. Here’s where you will get the biggest bang for your buck.
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As Originations Decline, Consumer Interest in HELOCs Inches Upward
Joe Mellman, SVP and Mortgage Business Leader at TransUnion, said, "Considering that homeowners had a cumulative total of $604 billion in non-mortgage debt, [HELOCs allow homeowners to] use their available home equity to pay off more expensive debt while keeping their existing low interest rate mortgage in place.”
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